in december 2008 brown company acquired a mine for usd 2 700 000 the mine contained 625182

In December 2008, Brown Company acquired a mine for USD 2,700,000. The mine contained an estimated 10 million tons of ore. It was also estimated that the land would have a value of USD 240,000 when the mine was exhausted and that only 4 million tons of ore could be economically extracted. A building was erected on the property at a cost of USD 360,000. The building had an estimated useful life of 35 years and no salvage value. Specialized mining equipment was installed at a cost of USD 495,000. This equipment had an estimated useful life of seven years and an estimated USD 33,000 salvage value. The company began operating on 2009 January 1, and put all of its assets into use on that date. During the year ended 2009 December 31, 400,000 tons of ore were extracted. The company decided to use the units-of-production method to record depreciation on the building and the straight-line method to record depreciation on the equipment. Prepare journal entries to record the depletion and depreciation charges for the year ended 2009 December 31. Show calculations.